The Annual General Meeting of GFH Financial Group B.S.C. was held on 6th April 2020 at 11:00am Bahrain time via electronic means with a quorum of 35.58%. The following items of the agenda have been approved:

  1. The minutes of the previous Ordinary General Meeting held on 29th December 2019.
  2. The Board of Directors report on GFH’s business activities for the financial year ended 31st December 2019.
  3. The Sharia Supervisory Board’s report on GFH’s business activities for the financial year ended 31st December 2019.
  4. The external auditors’ report for the financial year ended 31st December 2019.
  5. The consolidated financial statements for the financial year ended 31st December 2019.
  6. To allocate the net profit for the year 2019 as follows:
    1. Transfer an amount of US$ 8,011,000 to the statutory reserve;
    2. Allocate an amount of US$ 500,000 for charity activities and civil society organizations, in addition to an amount of US$ 568,000 for Zakat Fund.
    3. Cash dividends on all ordinary shares, excluding treasury shares, at a rate of 3.34% of share nominal value, equivalent to USD 0.0089 cents per share amounting to approximately US$ 30,000,000.
    4. To transfer an amount of USD 41,029,200 as retained earnings for the next year.
  7. The Board of Directors’ recommendation to allocate US$ 2.2 million as remuneration for members of the Board of Directors.
  8. The corporate governance report for the financial year ended 31st December 2019, and GFH’s compliance with the governance requirements issued by the Ministry of Industry, Commerce and Tourism and the Central Bank of Bahrain.
  9. Authorize the Board of Directors to take all the resolutions, approvals and authorization of all transactions concluded during the ended financial year with any related parties or major shareholders of GFH, as indicated in note 26 of the financial statements and as outlined in the Board of Directors’ report presented to the annual general meeting and the notes of the financial statements pursuant to the provisions of Article (189) of Bahrain’s Commercial Companies Law.
  10. Release the members of the Board of Directors from liability in respect of their acts for the financial year ended 31st December 2019.
  11. The reappointment of the external auditors of GFH for the year 2020, and authorize the Board of Directors to determine their fees.
The Important Dates with Regards to Dividends
General Meeting Date
(Shareholders’ approval date) 		06/04/2020
Cum-Dividend Date

(Last day of trading with entitlement to dividends)

 09/04/2020
Ex-Dividend Date

(First day of trading without entitlement to dividends)

 12/04/2020
Record Date for Bahrain Bourse and Dubai Financial Market listed shares
(The Day on which all shareholders whose names are on the share register will be entitled to dividends) 		13/04/2020
Record Date for Boursa Kuwait listed shares
(The Day on which all shareholders whose names are on the share register will be entitled to dividends) 		14/04/2020
Payment Date

(The Day on which the dividends will be paid to the entitled shareholders)

 27/04/2020